On-demand delivery giant Gopuff is drawing closer to its initial public offering (IPO), now reportedly having hired the banks with which it will carry out the process. On Tuesday (Jan. 25), Reuters reported that the Philadelphia-based company has tapped Morgan Stanley and Goldman for its IPO with plans to add JPMorgan as an underwriter as well, according to “people familiar with the matter.”
Gopuff has been busy in the past several months gearing up for its IPO, expanding its offering across categories and geographies. Last week (Jan. 18), the company announced the launch of its first private label brand. In December, Axios reported that the company had raised $1.5 billion in a convertible note that could bring its valuation as high as $40 billion. In November, Gopuff partnered with Chase bank to offer payment rewards and announced its expansion to 10 United Kingdom cities.
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Certainly, now is a good time for Gopuff to be going public — funds for food delivery are pouring in all around the world. Also on Tuesday, food and package delivery robotics company Starship announced that it has received roughly $56 from the European Investment Bank, the funding arm of the European Union. The same day, global food delivery management software as a service (SaaS) provider Deliverect announced a $150 million Series D fundraise, bringing its valuation to over $1.4 billion.
“As digitization becomes more and more popular, we’ve seen how much not only restaurants but grocery and convenience stores need streamlined online ordering to meet customer satisfaction, especially among Millennials and Generation Z shoppers,” Zhong Xu, Deliverect co-founder and CEO, said in a statement. “We’re thrilled for Deliverect’s next phase as the leader in online order automation, especially as so many people prefer the convenience of ready-to-eat food delivery today.”
Similarly, on Monday (Jan. 24), news broke that major Indian food delivery marketplace Swiggy had raised $700 million and doubled its valuation to $10.7 billion. Earlier in the week, it was reported that Latin American grocery delivery startup Calii has raised $22.5 million in a Series A funding round, bringing its fundraising to date to almost $35 million.
See also: Indian Food Delivery Giant Swiggy Raises $700M at $10.7B Valuation
LatAm Grocery Delivery Platform Calii Raises $22.5M Series A
PYMNTS research reveals that consumers across continents are ordering more of their food, groceries and restaurant meals alike, for delivery. Findings from PYMNTS’ 2021 How We Eat Playbook, created in collaboration with Carat, from Fiserv, which features a census-balanced survey of more than 5,200 U.S. adults, 43% of consumers are now ordering online for delivery more often than they were prior to the start of the pandemic.
Read more: Up for Grabs: Restaurants and Grocers See Path to Picking up 200 Million New Customers
Moreover, findings from the study What U.K. Consumers Expect From Their Grocery Shopping Experiences, a PYMNTS and ACI Worldwide collaboration, which surveyed more than 2,500 U.K. consumers about their grocery shopping habits, found that 52% report purchasing groceries online more often than they were before March 2020. Additionally, the most popular digital shopping channel for U.K. consumers is buying online and having the products delivered to their homes.
Related news: 52% of UK Consumers Shop for Groceries Online More Than They Did in 2020
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